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Tashkent, Uzbekistan (UzDaily.com) -- The first China International Import Goods and Services Exhibition China International Import Expo was held from 5 to 10 November 2018 in Shanghai, in which a delegation of the Republic of Uzbekistan led by Deputy Prime Minister took part -minister of the Republic of Uzbekistan Nodir Otajonov.
On the same day, in the afternoon, a delegation from Uzbekistan took part in a high-level Forum on trade and investment, which covered over 2,000 representatives of official and business circles from 100 countries, as well as heads of international organizations and experts.
It should be noted that the China International Exhibition of Imported Goods is an “innovative” step in the history of the development of international trade. In the framework of the official opening ceremony of the China International Import Expo, President Xi Jinping made a welcoming speech.
During the exhibition, an Uzbek-Chinese business forum was held with the participation of representatives of more than 50 leading trade enterprises, associations, and export-import companies of China.
The representative of the Shanghai Chamber of Commerce, Song Jinyun, speaking at the opening of the business forum, said a significant increase in the interest of Chinese business in the rapidly growing economy of Uzbekistan, rich in export potential of our country.
According to him, the economic policy pursued in Uzbekistan and the ongoing reforms, including the improvement of the business environment and the investment climate, are of great importance. The presence of huge reserves of natural resources in the country, a developed industrial infrastructure, rich intellectual potential and other factors create good opportunities for expanding trade and investment partnerships, Jinyun concluded.
The Uzbek delegation consists of representatives of ministries and departments, large companies such as Uzkimyosanoat, Uzeltehsanoat, Uzstroymaterialy, Uzagroexport, Uzcharmsanoat Associations and Uztekstilprom, as well as private business representatives within Forum held presentations of their companies, as well as meetings and negotiations with potential Chinese partners. The agreements on the implementation of a number of trade and investment projects were concluded.
In particular, the Association of Uztextileprom and Wuhan Hanou signed a contract for export of cotton yarn to China. The Export Support Fund for small businesses and private entrepreneurship and the company Shaanxi Northwest Central Asian Business Co.Ltd have agreed to implement a joint project to create a showroom of Uzbek products in the pilot Shanxi free trade zone with an area of 500 sq.m.
In addition, between the Uzcharmsanoat Association, Uzstroymaterialy, Maxam-Chirchiq and the Chinese company Tianjin Bohai Commodity Exchange CO.Ltd. concluded agreements on promotion of leather and footwear, chemical products in the Chinese market.
Also within the framework of the exhibition, the Ministry of Foreign Trade of the Republic of Uzbekistan organized a national exposition, which allowed to demonstrate the commercial, industrial, investment, tourist and cultural potential of our country. The stand of Uzbekistan was decorated in the national style in the form of palaces with blue domes, and among hundreds of others it looked very colorful. The pavilion widely presented various types of textile, agricultural, leather, food, wine and vodka, construction, electrical and chemical products.
Uzbekistan’s participation in the exhibition aroused great interest among Chinese and foreign guests with the variety of goods and products presented.
As a result of the China International Import Expo 2018 exhibition, 23 contracts worth US$226 million were concluded, including 21 export contracts worth US$173 million and 2 investment agreements worth US$53 million.
It should be noted that today the enterprises of Uzbekistan are ready to supply high-quality and competitive products to foreign markets. In this regard, the EXPO in Shanghai is a good platform for the promotion of domestic goods on the Chinese market by establishing direct contacts between the companies, and allows for improving the structure of mutual trade between the Republic of Uzbekistan and the People’s Republic of China.